Aspelin and Reitan join forces

Artel Kapital AS and Reitan Eiendom AS are establishing Aspelin Reitan Eiendom, a combined real estate platform with a total property value of approximately NOK 19 billion. The new company will be owned 50/50 by Artel Kapital and Reitan Eiendom, and will be responsible for developing, managing, and operating the combined portfolios of Aspelin Eiendom and Reitan Eiendom in Oslo.

Aspelin Eiendom’s portfolio includes landmark projects such as Vulkan, Via Vika, Sommerro, and The Thief. Reitan’s portfolio in Christiania Areal comprises properties including Schweigaards gate 33, Trelastgården, and Karvesvingen 7. In total, the new company will manage approximately 565,000 square meters, with around 60 percent of the property values located within Oslo’s Ring 2. The combined annual rental income is expected to be around NOK 1 billion.

Together with lawyer Dr. juris Niels Kristian Axelsen, CLP has assisted Artel Kapital AS throughout the process. We congratulate the parties and extend our thanks to both parties and the other advisors involved for a constructive process and excellent cooperation.

The CLP team consisted of Edvard Cock, Håvard Skogvoll, Sigrid K. Gjertsen Ertzaas, Sverre Saugstad, Stian Lockert, Frida Busund, Magdeli Støten and Dagný E. Eiríksdóttir-Hansen.

For further information about the transaction, please see the press release from Aspelin